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Posted Mon, 11 Jul 2022 00:39:30 GMT by J
Hi, For the past year, I have been staying at home engaging in day trading (listed securities) which resulted in a sizeable loss for 21/22 and have no plans on continuing the next year. Can the losses be reported as capital loss now with a view to offset future capital gains? OR Does this have to be reported as "self-employment income (loss in this case)" and can be offset against income from previous years (which may refund income tax I've previously paid)? If so, how should I do that? More specifically, is there a section within my personal tax account self-assessment form? Thanks
Posted Tue, 12 Jul 2022 07:38:13 GMT by HMRC Admin 17

Hi,
 
There are a number of factors (badges) that indicate whether someone is trading for tax purposes (and therefore deemed to be Self Employed).
These are set out in :

Business Income Manual     .
                  
In most cases, where an individual invests only their own money in day-trading transactions,
they will be taxable under the capital gains regime.                                                                                                       

Thank you.

 

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